Jefferies Group LLC Reiterates “Buy” Rating for AveXis, Inc. (NASDAQ:AVXS)
Jefferies Group LLC reissued their buy rating on shares of AveXis, Inc. (NASDAQ:AVXS) in a report published on Friday. Jefferies Group LLC currently has a $108.00 price objective on the stock, up from their previous price objective of $92.00.
AVXS has been the subject of several other research reports. Sanford C. Bernstein assumed coverage on shares of AveXis in a research note on Thursday, July 27th. They issued an outperform rating and a $108.00 price objective for the company. Morgan Stanley assumed coverage on shares of AveXis in a research note on Thursday, August 3rd. They issued an overweight rating and a $118.00 price objective for the company. Chardan Capital set a $103.00 price objective on shares of AveXis and gave the company a buy rating in a research note on Sunday, June 18th. Citigroup Inc. set a $100.00 price target on shares of AveXis and gave the company a buy rating in a research report on Thursday, June 15th. Finally, Zacks Investment Research upgraded shares of AveXis from a sell rating to a hold rating in a research report on Thursday, July 13th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $100.70.
Shares of AveXis (NASDAQ AVXS) traded down 2.37% during mid-day trading on Friday, hitting $89.49. 673,773 shares of the company were exchanged. AveXis has a 12-month low of $32.31 and a 12-month high of $97.77. The firm’s market capitalization is $2.48 billion. The company’s 50-day moving average price is $85.66 and its 200-day moving average price is $73.89.
AveXis (NASDAQ:AVXS) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($2.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.97) by $1.10. During the same quarter last year, the company earned ($0.68) EPS. Equities research analysts predict that AveXis will post ($4.36) earnings per share for the current fiscal year.
In other AveXis news, VP Sukumar Nagendran sold 1,780 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $70.91, for a total value of $126,219.80. Following the completion of the transaction, the vice president now directly owns 1,780 shares in the company, valued at approximately $126,219.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 5,340 shares of company stock valued at $434,872. Corporate insiders own 18.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of AveXis by 3,055.6% in the first quarter. BlackRock Inc. now owns 1,708,386 shares of the company’s stock valued at $129,888,000 after buying an additional 1,654,248 shares during the period. Alliancebernstein L.P. boosted its position in shares of AveXis by 4,448.8% in the second quarter. Alliancebernstein L.P. now owns 564,966 shares of the company’s stock valued at $46,418,000 after buying an additional 552,546 shares during the period. FMR LLC boosted its position in shares of AveXis by 13.1% in the second quarter. FMR LLC now owns 4,705,433 shares of the company’s stock valued at $386,598,000 after buying an additional 544,475 shares during the period. Vanguard Group Inc. boosted its stake in AveXis by 31.8% in the second quarter. Vanguard Group Inc. now owns 1,575,205 shares of the company’s stock valued at $129,419,000 after buying an additional 380,396 shares during the period. Finally, Marshall Wace North America L.P. boosted its stake in AveXis by 813.3% in the second quarter. Marshall Wace North America L.P. now owns 303,084 shares of the company’s stock valued at $24,853,000 after buying an additional 269,900 shares during the period. Hedge funds and other institutional investors own 90.68% of the company’s stock.
AveXis, Inc is a clinical-stage gene therapy company. The Company operates through the developing and commercializing gene therapy treatments for patients suffering from neurological genetic diseases segment. The Company’s product candidate, AVXS-101, is its gene therapy product candidate that is in a Phase I clinical trial for the treatment of spinal muscular atrophy (SMA) Type 1, which is a genetic disorder characterized by motor neuron loss and associated muscle deterioration.
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